WHEN DOES INVESTING IN CLASSICAL BIOLOGICAL-CONTROL RESEARCH MAKE ECONOMIC SENSE

A simple model is presented which calculates the expected net benefits of classical biological control projects. Estimates of project cost, length, chance of success, and the time value of money are used to calculate the potential benefit necessary to economically justify investment in a typical project. The potential benefit is about $62 thousand per year. The effects of changing key model parameters on the level of the required benefit are explored.